In contracts that are not between merchants selling goods, a promise to keep an offer open for a certain time period must be supported by the offeree's consideration. Such an agreement to not revoke an offer is called a(n) _____.
A) firm offer
B) option
C) promissory estoppel
D) novation
E) assignment

Question

Quizplus · Accepted Answer

In contracts that are not between merchants selling goods, a promise to keep an offer open for a certain time period must be supported by the offeree's consideration. Such agreement to not revoke an offer is called an option.

In Contracts That Are Not Between Merchants Selling Goods, a Promise